Bitcoin Price Falls as Two of China’s Biggest Exchanges Halt Withdrawals
The move to suspend any bitcoin and litecoin withdrawals appears to be a direct consequence of the closed-door meetings between the PBOC and bitcoin exchanges Following the warning issued by China’s central bank to domestic exchanges earlier today, two out of three of China’s most widely used bitcoin exchanges have announced that they will suspend bitcoin and litecoin withdrawals for one month effective immediately. The move to suspend any bitcoin and litecoin withdrawals appears to be a direct consequence of the closed-door meetings between the PBOC and bitcoin exchanges that happened....
Related News
China’s biggest Bitcoin exchange BTCC has announced it will halt cryptocurrency withdrawals until March 15 as it moves to comply with regulatory standards. In line with other major Chinese exchanges such as Huobi and Okcoin, BTCC is working on what it describes as “upgrading its inspection and verification system.” It promised that withdrawals would immediately resume once the process had completed and that users would be informed. Withdrawals in yuan remain unaffected. A circular sent to users Wednesday reads: “BTCChina will continue upgrading its inspection and verification system for....
Bitcoin price has sunk to a 30-day low, losing over $200 in a 24-hour period to hit a low of $938.73 on the Bitstamp Price Index (BPI). The ongoing debate about a hardfork of the bitcoin blockchain that could see two separate networks with two separate assets has possibly triggered a bitcoin price spiral to levels unseen since February 9. At the time, price crashed to a low of $915 from trading levels above $1050 after two of China’s biggest bitcoin exchanges paused bitcoin withdrawals, a measure that still stands today. At 15:45 UTC on Friday, BPI figures reveal the cryptocurrency trading....
Following the lead of two of the market's more prominent exchanges, at least six other China-based bitcoin exchanges have announced updates to withdrawal policies as part of a bid to tighten AML oversight. Announced today, BitBays, BTC100, BTCTrade, CHBTC, HaoBTC and Yunbi have all enacted changes to their withdrawal capabilities, a move that comes days after the exchanges were called to meet with the Beijing office of the People's Bank of China (PBoC), China's central bank. Notably, the policies issued differ from the more stringent halt of bitcoin and litecoin withdrawals imposed by....
China’s ‘big three’ bitcoin exchanges have all released statements confirming that bitcoin withdrawals will only resume following approval by regulators, as the platforms reinforce their infrastructure to comply with AML and regulatory requirements. It was a month ago when OkCoin and Huobi, two of China’s ‘big three’ exchanges paused withdrawals of bitcoin in the face of regulatory pressure from the People’s Bank of China. A week later, the other big exchange, BTCC, followed suit and halted withdrawals for a month. In separate but entirely identical statements today, all three bitcoin....
Starting tomorrow, China’s largest bitcoin exchanges will begin charging trading fees at a flat 0.2 percent for every transaction. The changes stemming from the People’s Bank of China’s involvement in bitcoin trading activity between China’s biggest bitcoin exchanges continue. Within days of BTCC, Huobi and OKCoin formally announcing the halt of margin or leveraged trading for Chinese users, the three exchanges will now begin charging traders a flat fee of 0.2% per transaction. An announcement from BTCChina this Sunday read that charging fees for bitcoin and litecoin trading will commence....